Gulf Island Fabrication Stock Forecast
Volatile ride for Gulf Island Fabrication stock price on Thursday moving between $6.60 and $7.27
(Updated on May 02, 2024)
The Gulf Island Fabrication stock price gained 3.35% on the last trading day (Thursday, 2nd May 2024), rising from $6.87 to $7.10. During the last trading day the stock fluctuated 10.15% from a day low at $6.60 to a day high of $7.27. The price has risen in 6 of the last 10 days and is up by 11.64% over the past 2 weeks. Volume fell on the last day by -45 thousand shares and in total, 34 thousand shares were bought and sold for approximately $242.05 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.73 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 50.74% during the next 3 months and, with a 90% probability hold a price between $10.14 and $13.59 at the end of this 3-month period.
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GIFI Signals & Forecast
The Gulf Island Fabrication stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $6.95 and $6.95. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -8.03%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Gulf Island Fabrication stock
Gulf Island Fabrication finds support from accumulated volume at $7.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.670 between high and low, or 10.15%. For the last week the stock has had daily average volatility of 8.04%.
Our recommended stop-loss: $6.80 (-4.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (GIFI) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Gulf Island Fabrication to open at $6.99, and during the day (based on 14 day Average True Range), to move between $6.68 and $7.52, which gives a possible trading interval of +/-$0.420 (+/-5.92%) up or down from last closing price. If Gulf Island Fabrication takes out the full calculated possible swing range there will be an estimated 11.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.15 (0.70%) than the support at $7.00 (1.41%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Gulf Island Fabrication stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Gulf Island Fabrication stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.168 Buy Candidate Upgraded
Predicted Opening Price for Gulf Island Fabrication of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $6.99 ( 1.55%) | $7.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GIFI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.66 | 7.89 % | |
| R2 | 7.40 | 4.28 % | ||
| R1 | 7.25 | 2.06 % | ||
| Current price: | 7.10 | |||
| Support | S1 | 6.73 | -5.15 % | |
| S2 | 6.58 | -7.38 % | ||
| S3 | 6.32 | -10.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.50 | 5.63 % | |
| R2 | 7.33 | 3.24 % | ||
| R1 | 7.15 | 0.704 % | ||
| Current price | 7.10 | |||
| Support | S1 | 7.00 | -1.41% | |
| S2 | 6.87 | -3.24% | ||
| S3 | 6.56 | -7.61% |
GIFI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 26, 2017 | Nov 09, 2017 | Nov 24, 2017 | $0.0100 | 0.0778% |
| 2 | Jul 31, 2017 | Aug 08, 2017 | Aug 24, 2017 | $0.0100 | 0.0922% |
| 3 | Apr 26, 2017 | May 09, 2017 | May 25, 2017 | $0.0100 | 0.110% |
| 4 | Feb 25, 2017 | Mar 08, 2017 | Mar 24, 2017 | $0.0100 | 0.0976% |
| 5 | Oct 27, 2016 | Nov 08, 2016 | Nov 23, 2016 | $0.0100 | 0.0939% |
FAQ
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